Last checked at 20 Sep 2023 07:00
PageGroup plc
Capital Markets Event
Updated Strategy targeting £400m Operating Profit and £1.5bn in shareholder distributions by 2030
PageGroup plc ("PageGroup" or the "Group") will this afternoon, at 3.00pm (BST), hold a capital markets event for investors and analysts. The event will be held in person at the London Stock Exchange Group, 10 Paternoster Square, London, EC4M 7LS (Room Forum) and available virtually at the following link:
https://pagegroup.connectid.cloud/
During the event, senior management will present the refined Group strategy. In particular, we will detail how we intend to attain our three new strategic goals to be delivered by 2030, those being:
· £400m Operating Profit
· A Net Promoter Score of 60+
· One Million Lives changed
We will explain how we intend to deliver these goals by growing our core business, as well as focusing on our new strategic areas of growth - namely Technology, Page Executive and Strategic Customers.
During the event we will also outline how the Group aims to achieve a conversion rate in excess of 20%.
We believe that the achievement of these goals will generate capital distributions to shareholders of over £1.5bn during the period to 2030.
As part of this refined strategy and our increased focus on our conversion rate target, we have already implemented a number of initiatives to reduce our cost base. These initiatives will incur a one off cost in 2023 of c. £15m, offset by the majority of the cost savings being realised in FY23. The net negative impact this year will be c. £5m. Going forward, we expect these initiatives to deliver annualised savings of c. £20m per annum compared to our FY23 cost base from FY24 onwards.
PageGroup
Julia Dickson, Group Financial Controller 01932 264032
FTI Consulting
Richard Mountain / Susanne Yule 020 3727 1340